The following constitutes a "Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995: This presentation contains forward-looking statements that involve a
number of risks and uncertainties, including forward-looking statements about our expected
future financial and operating performance. Important factors that could cause actual results
to differ materially from those indicated by such statements include risks and uncertainties
set forth under the heading "Risk Factors" in Kadant's quarterly report on Form 10-Q for the
period ended October 2, 2010 and risks and uncertainties relating to our dependence on the
pulp and paper industry; poor relations with a major paper producer in China; significance of
sales and operation of manufacturing facilities in China; our ability to expand capacity in
China to meet demand; international sales and operations; competition; soundness of
suppliers and customers; our debt obligations; restrictions in our credit agreement;
soundness of financial institutions; litigation and warranty costs related to our discontinued
operation; our acquisition strategy; future restructurings; factors influencing our fiber-based
products business; protection of patents and proprietary rights; fluctuations in our share
price; and anti-takeover provisions. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information, future events, or
otherwise.

In addition to the financial measures prepared in accordance with generally accepted
accounting principles (GAAP), we use certain non-GAAP financial measures, including
increases or decreases in revenues excluding the effect of foreign currency translation,
adjusted operating income, earnings before interest, taxes, depreciation, and amortization
(EBITDA), and adjusted EBITDA.

A reconciliation of those numbers to the most directly comparable U.S. GAAP financial
measures is shown in our 2010 fourth quarter earnings press release issued February 23,
2011, which is available in the Investors section of the company’s website at
www.kadant.com under the heading Investors News.

All geographic revenues and bookings data are attributed to regions based on selling
locations. For North America and China, this also approximates revenues and bookings
based on where the equipment is shipped to and installed. Our European geographic data,
however, includes revenues and bookings that may be shipped to and installed outside
Europe, including South America, Africa, the Middle East, and certain countries in
Southeast Asia (excluding China).

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